From the Bain debt financing announcement it sounds like they opted for the Bain deal to avoid dilution. They also mention that there is less restrictions on the Bain debt than their existing debt. So I would assume those are the two principal driving forces behind Bain.
As for shorting, I can't say I'm heavily against it. To me , it seems like those opposing short selling confuse the value of the share price with the value of the business - namely, they think the two are one and the same. They seem to think short sellers who drive down share prices reduce the value of the actual business itself. In reality, the value of the business is based on fundamentals and is separate from the share price.
In Imdex's case, they have high quality, consistently profitable businesses in AMC muds and Reflex drilling instrumentation. If shorters shorted IMD shares to 5c tomorrow, it wouldn't change the fact that IMD are making millions in profits - expected to be well north of $20m EBITDA in FY17. In fact, it would create a wonderful opportunity for the value investors, who are able to buy in cheaper than they'd otherwise would. From that perspective, shorters may actually be a healthy thing for markets, by creating liquidity and more opportunities to deploy capital at attractive rates of return.
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